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Deutsche appoints Standard to manage 107m portfolio

The board of Deutsche equity income trust has selected Standard Life Investments to manage its 107m portfolio.

The appointment, to take effect in November, follows a review of management arrangements following the takeover of DWS by Aberdeen after the departure of man-ager Graham Ashby.

SLI head of UK institutional business George Walker will lead the core management team in charge of the contract and investment director Karen Robinson will be the lead fund manager.

As part of the transition process, it is proposed that the name will be changed to Standard Life equity income trust.

DEIT chairman Tony Mitchard says: “SLI has a strong reputation for managing UK equities.”

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